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20121202
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Search Results 0 to 8 of about 9 (some duplicates have been removed)
.s. are expected to have slowed significantly in november as hurricane sandy battered the economy. and euro hits a session low, 0.4% as problems in europe's periphery continue to weigh. a powerful 7.3 magnitude earthquake has struck across japan's northeastern coast. the quake rocked buildings as far as tokyo according to reports. u.s. geological survey said there was no threat in the wider pacific ocean. the yen has been rising to a session high before we got details of that. and right now, you can see dollar-yen at 82.39. 82.17 before that happened. some safe haven in-flows into japanese currency. if there was going to be a wave in terms of tsunami that was going to hit, it would have happened around five, six minutes ago and she had yet to see any specific drop or change in the sea level. so we'll hope that that continues on that particular way. atomic power says no irregularities seen at its nuclear plant. operations are normal after the quake. so we'll keep our eyes on that. and we'll see if there's any further reaction, as well. hurricane sandy is expected to have put a big department in t
say the slow down in nonfarm payrolls will reflect the effect of sandy. joining us this hour is bank of america merrill lynch global research senior research economist michelle mire and we'll talk through everything that's been happening through jobs and what to expect. but first, there is a developing story. an earthquake off the northeast coast of japan triggered a tsunami warning. the warning has been lifted, but it was a 7.3 quake. so far no reports of any injuries or damage. it was for the same area devastated by an earthquake and tsunami back in march of last year. we will continue to bring you any developments. in the meantime, steve has some of the morning's top other stories. >> let's start with the markets. asian stocks rallying to 2012 highs overnight. the nikkei edging lower after hitting a se hitting hitting a seven month closing high yesterday. european trading, shares seem to be fwllat. bundesbank announced it had cut its growth outlook for the country. in the u.s., the nasdaq snapped its losing streak yesterday with its first gain in five days. the dow was on pace for
be 8%. and all this despite the effects of hurricane sandy. who knows how high we could have been if it weren't for that darn hurricane? yet the market barely blinked. yet the potential layoffs if we go over the cliff make these rearview numbers seem almost irrelevant to the market. hence the mixed performance of the averages today. sure, dow gained 81 points, but the s&p barely budged, edging up 29%. and the nasdaq actually declined .38%, led once again by the slip sliding away apple, which you know i like, but how many times during a particular show can i say i like it? so with that in mind, what's the game plan for next week? first off, perhaps the most important day of the week is monday. but not for any earnings. not for any releases. that's when we process the results of the weekend talk shows, which you now have to watch as if we were instead of watching, you know, college gameday, i'm watching like some of those other news stations -- and then of course sunday morning whoever -- you don't even pay attention -- football means nothing now, right? it's all this. last week we
. >>> to the jobs report today. super storm sandy slammed the east coast but it looks like it didn't have all that much impact on the labor market. november jobs numbers coming in much stronger than expected. steve leisman who's had a very busy week here to talk about the numbers and put it in context for us. >> hi, sue. no substantive sandy in the jobs numbers. the lack of sandy effect has us scratching our heads, what they said. i just got off the phone with the guy who's the head of doing the numbers, labor numbers at the bls. he walked me through the rather extensibilive process they did fine out if there was any sandy effect, including sampling of businesses in a flood tide areas. >> it was very meticulous. >> i'm pretty convinced they did a good job figuring out if there was an effect and there is no effect which brings us to the numbers which you could believe on face value as much as you can. they'll revise this again. they only come forward with 60% to 70% of the sample. unemployment rate falling 7.7% because largely a drop in the labor force. average hourly earnings up 0.2%. despite
's needed in the wake of hurricane sandy. can't get this stuff to america fast enough. united states fast enough. thanks to the strength of the economy, the increasing volumes with declining costs. the gross margins are expanding, how much do we love that in a rail? however, only affects about 18% of kansas city southern's revenues. they do have some coal exposure, something that's crushed a great many railroads, we know that because we have backed away because of the coal. but they have something the other railroads don't have, consistently high growth, not that low single digit stuff and not susceptible to the cyclical nature of coal or the ongoing war between natural gas and coal in the fight to be fuel for american utilities. and that's why i'm naming it my new favorite railroad. even over and above union pacific, which is always been my favorite. don't get mad at me, union pacific. i used a great union pacific calendar, but it's december. that one's off the wall. anyway -- kansas city southern also saw some exposure to the bakken shale. they found so much oil, they need to ship it vi
here, sandy was terrible. that will subtract from growth. we also have the little twinkie strike which is something that everybody's worried about, so that will subtract. so when you net all those things out, you'll probably get a number closer to 90,000. but when you net those things out, you know in future months you'll get more growth. 2 pch 2.7, a lot was inventory based. so economic growth probably gets weaker. but as the rebuilding takes prar place, the strike resolved, no jobs no doubt. >> so in the meantime we go back above 8%? >> i think there's a chance that you can touch 8%, but i think you'll stay somewhere near the 8% range. >> if you had to make a prediction like i did, i had to make a prediction for where unemployment would be a year from now. i said somewhere in the 7s. >> i think by the end of next year you'll get a near somewhere in the neighborhood of 7.4, 7.5. still in the 7s. because again, we are going to glow next year something close to 2% and probably a little bit below that. that's not consistent with a huge deceleration of the unemployment rate. >> unless the
Search Results 0 to 8 of about 9 (some duplicates have been removed)